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Gold As An Investment?


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Watching in awe a $100 swing in the POG and $4 swing in Ag and oil at $78 this morning.Not in the mood to try to catch the knife today, will keep my powder dry and if I miss the lows on the metals so be it, and will try to pick up a position in oil or potash after things bottom out.

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are you actually a trader or are you doing this on your own?I bought a very low grade morgan dollar for $20 today. it's gonna be my flippin' coin. silver sounds so much better than the copper nickel clad bullshit.

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are you actually a trader or are you doing this on your own?I bought a very low grade morgan dollar for $20 today. it's gonna be my flippin' coin. silver sounds so much better than the copper nickel clad bullshit.
You'll never carry it, thus defeating the purpose of having a dedicated 'flipping coin'.I keep one of those $1 Thomas Jefferson dollars in my wallet. I'll replace it once they get to Nixon.
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are you actually a trader or are you doing this on your own?I bought a very low grade morgan dollar for $20 today. it's gonna be my flippin' coin. silver sounds so much better than the copper nickel clad bullshit.
I only make a few trades a month but also have large positions in mining companies that I'm personally involved with so I follow the market closely but my area of expertise is more on the engineering side.I haven't bought physical metal since the 90s but wouldn't mind adding to my collection but would have a hard time paying even today's prices. Will keep waiting.
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You'll never carry it, thus defeating the purpose of having a dedicated 'flipping coin'.
I am much dumber than you give me credit for! it fits nicely in my extraordinarily thin wallet.the presidential dollars are fucking garbage. they look incredible new, then tarnish almost immediately. I have a roll of brand new rutherfords at work with the ends already showing slight tarnishing. totally asinine, and the mint claims it was intentional.
I only make a few trades a month but also have large positions in mining companies that I'm personally involved with so I follow the market closely but my area of expertise is more on the engineering side.I haven't bought physical metal since the 90s but wouldn't mind adding to my collection but would have a hard time paying even today's prices. Will keep waiting.
ever thought about hedging? mining companies often hedge, so maybe you'd have to run a complicated options play or something.the coin collector in me doesn't mind the run-up in silver so much. it's the fact that the public drove up the pricing on all gold coins, well past what the commodity has done, simply because people like goldline and glenn beck are so friggin good at their jobs.
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ever thought about hedging? mining companies often hedge, so maybe you'd have to run a complicated options play or something.the coin collector in me doesn't mind the run-up in silver so much. it's the fact that the public drove up the pricing on all gold coins, well past what the commodity has done, simply because people like goldline and glenn beck are so friggin good at their jobs.
Hedging is a dirty word in gold mining, most companies promote themselves as having no hedge, During the last big down market ABX made a killing with it's hedge book but it was so large that it helped perpetuate the decline and they had to eventually re-finance and dilute to pay it off when the prices turned around, then there were other companies that imploded and went bankrupt like Cambior when their hedge books blew up.Investors want to know that when they buy a gold miner that they have exposure to the price of gold and not something that is diluted by hedges. Hedges are often complex financial instruments that are the exact opposite to the type of investment that gold bugs want to be associated with.
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Gold and Silver seem to be going nowhere, some volatility but no break in either direction.Like most of the market Waiting on what happens to the Euro?What about the US super committee, what happens if they can't hash out a deal?Is China slowing down?

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quite close to $1800 again. I made a mental commitment at $2000. kinda rooting for it, kinda not. can't begin to describe how much I wish I had put more into my collection back in 2001 when gold was like $300/oz.

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Gold and silver going down with the predictable failure of the super committee, may be a buying opportunity soon in the 1600's.On another note, get a load of this coin

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quite close to $1800 again. I made a mental commitment at $2000. kinda rooting for it, kinda not. can't begin to describe how much I wish I had put more into my collection back in 2001 when gold was like $300/oz.
In 2001, lets say gold was roughly $300 oz. If you had spent $3000 then, you'd have about $18,000 today. If you had taken that same $3000 and used it to make a couple shrewd domain name purchases in 2001, you'd be making $3000 a month for life off parking revenue, with the prospect of selling it outright for six or seven figures.The only reason I point this out is that it is kind of illustrative of the sorts of opportunities permabear gold bugs can miss, since they're always buying more gold for Armageddon.
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In 2001, lets say gold was roughly $300 oz. If you had spent $3000 then, you'd have about $18,000 today. If you had taken that same $3000 and used it to make a couple shrewd domain name purchases in 2001, you'd be making $3000 a month for life off parking revenue, with the prospect of selling it outright for six or seven figures.The only reason I point this out is that it is kind of illustrative of the sorts of opportunities permabear gold bugs can miss, since they're always buying more gold for Armageddon.
I don't mind the point you're making. I just want to finish this collection without taking a big (to me) position in gold. I eventually want to own the st. gaudens eagle, the native american half eagle, and the indian headdress gold dollar. right now, they go for $1k, $500, and $200-250 respectively, which is just idiotic.
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POG dropped about $200 in the last week or so and about 20% off the high but still up for the year. Lots of people jumping off the wagon, gold in the $1400s felt great on the way up not so much on the way down, is this a correction or a pop? Either way I'm fine with it as long as it's above $1200

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All I know is this. I have three pieces of scrap gold, just under one ounce (karat adjusted) in total. Even though it's not a lot of money, I'm turning them all in right now. If gold goes to 7000, oh well. "Late in, early out, forget about 'what if'..." is a dead simple philosophy that mitigates a shitload of risk and keeps you consistently taking away profits while others wind up risking it all in their effort to greedily chisel out every last nickle.
I settled this right at $1890 an ounce, for the record.
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I settled this right at $1890 an ounce, for the record.
Good for you, I've been taking a haircut lately and can see things continuing -ve through to the end of the year.
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Predictions?
Gold dropped because the US$ rose and it looked like the US economy was on the rebound. If that trend holds and eventually interest rates go up gold could stay down or drop more.A week later gold is still mid 1600s I don't expect gold to go full bull anytime soon unless pushed by another big currency crisis or QE, on the down side it could go down near 1400 but it's hard to see it dropping more than that.Saludos,aucu
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the fort knox rumor has been around for forever in various forms. I don't buy it. there's really nothing the government could do to completely quash it, but that doesn't make the current level of neglect acceptable. I don't know why dealers aren't just drilling every bar with prices where they are. surely it can't be THAT expensive to re-cast bars. $1650/oz * 35.27 oz/kilo * .4 W/bar = $23,300 loss per tungsten-tainted bar. I hope those pictures are a hoax.

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what explanation do we have for why gold was $300 a decade ago, and why should it stay closer to $1400 when the cloudy weather is gone?no telling how long it'll be before we start seeing sunshine again
There is none. The price of gold is completely irrational. Basically you are trying to read mind's of other people to figure out exactly how irrational they actually are. Good luck.
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what explanation do we have for why gold was $300 a decade ago, and why should it stay closer to $1400 when the cloudy weather is gone?no telling how long it'll be before we start seeing sunshine again
Gold was not in favor in the tech/internet bubble years, there was a lot of talk about gold being a "barbaric relic" the bear market in gold was long and short selling looked like a sure thing and was for a while even for the mining companies that hedged a lot. On top of that central banks were selling (Canada and the UK sold all their gold) With gold at $300, 66% of all mines were operating at a loss, I think this makes a good a sign as any for a bottom. The gold pendulum has swung, I have no doubt it will swing again but how far and has the center shifted is the question.
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